France to discuss nuclear industry on Wednesday - Le Monde

Reuters Staff

2 Min Read

Employees work in the operation room of the Areva Nuclear Plant for the treatment of nuclear waste at La Hague, near Cherbourg, western France, April 22, 2015.Benoit Tessier

PARIS (Reuters) - The French government will discuss the future of the country's nuclear industry on Wednesday and might decide on the recapitalisation of reactor builder Areva (AREVA.PA), newspaper Le Monde reported on Tuesday.

It said the boards of utility EDF (EDF.PA) and Areva, both state-owned at 85 and 87 percent respectively, would meet to discuss the planned takeover of Areva's reactor arm by EDF.

EDF has postponed making a final investment decision on its 18 billion pound project to build two nuclear reactors in Hinkley Point, Britain, it added.

The French government and EDF declined to comment while Areva was not immediately available for comment.

Le Monde said President Francois Hollande, Prime Minister Manuel Valls and the ministers responsible for the nuclear sector will meet on Wednesday morning to discuss the nuclear industry and might decide on the recapitalisation of Areva.

The new Areva, focussed on uranium mining and nuclear fuel production and recycling, will need between 4 to 5 billion euros, the paper said.

Sources told Reuters this month that an EDF board meeting on Wednesday would formalise an offer for Areva's reactor arm at just over 2.5 billion euros.